Transco, Hyundai sign P3-B contract for Mindanao project
The National Transmission Corp. has signed a P3-billion contract with Korean firms Hyundai Engineering Co. Ltd. and Hyundai Corp. for the improvement of transmission lines in Mindanao. In a statement released Friday, Transco said Hyundai won the contract through a competitive public bidding. The project will involve improvements to a double-circuit, two-conductor transmission line spanning 105 kilometers from Maramag, Bukidnon to Bunawan, Davao City. "The project is part of the Abaga-Kirahon-Maramag (Pulangi)-Bunawan 230-kV Transmission Line Project which involves putting up higher capacity lines on steel towers, building new switching stations, and boosting the capability of associated substations to handle bigger loads," Transco said in its statement. Other project components, Transco said, are the construction of a new switching station in Maramag and the expansion of Bunawan and Tagoloan substations through the installation of new transformers – one 100-MVA at Tagoloan substation, one 75-MVA at Maramag substation, and one 50-MVA at Bunawan substation. "Once completed, the line will be able to transmit increased power flow from power plants in northern Mindanao towards the major electricity consumers in the area," Transco said. The proposed transmission network will serve as the main 230-kV highway of power delivery to the Southern part of Mindanao . Transco said the total peso equivalent of the project cost is P2.997 billion. It said 85 percent of the project’s foreign exchange cost will be sourced from the Calyon funding facility while the remaining fifteen percent 15 percent of the forex cost, together with the peso currency component, will be funded from Transco’s internal cash generation. Representatives of Transco and Hyundai signed the project contract last Dec. 21, 2007. - GMANews.TV